Throughout 2010, the non-U.S. CPMs in display have been about 70% cheaper than the U.S. CPMs, with that gap widening as the year progressed and macro U.S. economic indicators improved.
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Across the 2 primary display ad exchanges, CPMs are down 19% MoM and 31% YoY. While the CPM decline may be concerning for publishers, overall advertiser demand rose, as impressions increased 13% MoM and 273% YoY. The key driver for CPM declines appears to be a wider play for less expensive inventory.
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